No longer on the market
This property is no longer on the market
MapLand
Under offer
Land
Features and description
Freehold Reversionary Ground Rent Investment Opportunity.
A rare opportunity to acquire a reversionary freehold ground rent investment in a highly sought after West London location. The building consists of four self-contained flats internally all of which are subject to long leasehold interests, summarised below:-
1. Flat A - First & Second Floor Flat (1807sq.ft.) subject to a lease term of 99 years commencing 25th March 1970 at a fixed ground rent of £50 per annum. Unexpired term of approximately 45 years remaining. Unimproved FHVP circa £1,000,000
2. Flat B - Lower Ground Flat (797sq.ft.) subject to a lease term of 99 years commencing 18th February 1997 subject to rising ground rents. Passing rent of £75 per annum rising to £225. Unexpired term of approximately 72 years remaining. Unimproved FHVP circa £725,000
3. Flat C & D are subject to extended leases of 135 years (unexpired) at a peppercorn ground rent.
There may be long term potential to acquire the individual flats and reinstate/redevelop the building into a high value family residence as precedented in other buildings in this road. There is also of course potential to generate significant lease renewal premiums from Flats A & B.
Further details, including title documentation, floor areas, floor plans etc are available on request.
Any sale agreed will be subject to offering rights of first refusal to the qualifying lessees under Section 5A of the Landlord & Tenant Act 1987.
Tenure
Freehold subject to the associated long leases.
Guide Price: £160,000
Please call Blakes Chartered Surveyors on[use Contact Agent Button] for further information.
[use Contact Agent Button]
Tenure: Freehold
Please note that this is a Freehold Reversionary Ground Rent Investment subject to the 4no Long Leasehold Interests
A rare opportunity to acquire a reversionary freehold ground rent investment in a highly sought after West London location. The building consists of four self-contained flats internally all of which are subject to long leasehold interests, summarised below:-
1. Flat A - First & Second Floor Flat (1807sq.ft.) subject to a lease term of 99 years commencing 25th March 1970 at a fixed ground rent of £50 per annum. Unexpired term of approximately 45 years remaining. Unimproved FHVP circa £1,000,000
2. Flat B - Lower Ground Flat (797sq.ft.) subject to a lease term of 99 years commencing 18th February 1997 subject to rising ground rents. Passing rent of £75 per annum rising to £225. Unexpired term of approximately 72 years remaining. Unimproved FHVP circa £725,000
3. Flat C & D are subject to extended leases of 135 years (unexpired) at a peppercorn ground rent.
There may be long term potential to acquire the individual flats and reinstate/redevelop the building into a high value family residence as precedented in other buildings in this road. There is also of course potential to generate significant lease renewal premiums from Flats A & B.
Further details, including title documentation, floor areas, floor plans etc are available on request.
Any sale agreed will be subject to offering rights of first refusal to the qualifying lessees under Section 5A of the Landlord & Tenant Act 1987.
Tenure
Freehold subject to the associated long leases.
Guide Price: £160,000
Please call Blakes Chartered Surveyors on[use Contact Agent Button] for further information.
[use Contact Agent Button]
Tenure: Freehold
Please note that this is a Freehold Reversionary Ground Rent Investment subject to the 4no Long Leasehold Interests
Property information from this agent
About this agent
Blakes Chartered Surveyors & Estate Agents - Kingston upon Thames
2 Kingston Hill
Kingston upon Thames, Surrey
KT2 7NH
020 8115 1483With over 25 years collective experience within the property industry BLAKES has been formed to offer a complete service whatever your needs and requirements. We offer an all-encompassing service including sales, lettings and property management through to specialist chartered surveying services and you will find our advice and commitment to customer satisfaction second to none. We aim to eliminate as much of the stresses and strains often associated with the industry and you will discover that we also go that extra mile to ensure that dealing with BLAKES is as pleasurable as possible. Our practice is owned and run by qualified professionals and completely independent allowing us to offer flexible and truly customer focused services to all of our clients. Whilst we offer ancillary services such as building surveying, mortgage advice and conveyancing through our network of trusted associates, unlike many corporate agencies these are strictly recommendations only and we will never pressurise you into using any of their services as part of any transaction. You will find that when you have any dealing with BLAKES that we conduct our business with sincerity, professionalism and expert knowledge. Added to which you will discover that our promises are always met and that our highest quality of presentation stand us apart from the competition. All of our business transactions with clients, suppliers or other stakeholders are conducted to the highest possible ethical standard. As chartered surveyors, all of the services that BLAKES offer are regulated by the Royal Institution of Chartered Surveyors (RICS) and we are also a licensed agent of the Association of Residential Lettings Agents (ARLA) giving you complete peace of mind and protection. Furthermore, as members of the Association of Leasehold Enfranchisement Practitioners (ALEP) we are part of a wide network of specialist leasehold advisors highly experienced in the field of residential lease extensions and collective enfranchisements. So if you have a property with a short lease and need to extend it, would like to acquire the freehold of your building or take on the management using RTM legislation we are well placed to assist and work with you to achieve the best possible result, utilising the statutory provisions within the Leasehold Reform Act.